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24M funding boost for semi-solid tech

Wed, 12/19/2018 - 00:00 -- John Shepherd
Photo: 24M

Semi-solid lithium-ion cells company 24M is to pump more than $20 million into speeding up deployment of the technology for the electric vehicle market.

US-based 24M said it had raised a total of $21.8m in series D financing to boost development of its “simple, capital-efficient, low-cost manufacturing process and the development of differentiated, high energy density lithium-ion cells”.

The financing was led by Japan-based ceramics manufacturer Kyocera and Japanese trading house Itochu. Previous investors also taking part in the round included North Bridge Venture Partners.

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